Interest earned on checking account


The information below relates to the Cash account in the ledger of Robertson Company.
Balance September 1-$17,150; Cash deposited-$64,000.
Balance September 30-$17,404; Checks written-$63,746.

The September bank statement shows a balance of $16,422 on September 30 and the following memoranda.

Credits
Debits

Collection of $1,500 note plus interest $30 $1,530 NSF check: J. E. Hoover $425
Interest earned on checking account $45 Safety deposit box rent $65

At September 30, deposits in transit were $4,450, and outstanding checks totaled $2,383.

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Accounting Basics: Interest earned on checking account
Reference No:- TGS0711908

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